City manager, Marchell Adams-David, submitted the proposed $1.78 billion budget on May 20.
According to the city, the theme of the proposed budget, "Our Greatest Asset: Our Workforce," is illustrated by the implementation of a comprehensive classification and compensation study. The study has delivered a new structure for more than 7,000 employees in more than 450 different job types. The total funding required for implementation is $35 million. In anticipation of the study results, the City set aside a penny of the tax rate - $11.4 million in fiscal year 2025. The remaining resources to fund the compensation study were realized from savings and careful budget planning that still ensures a strong fiscal position for the organization, the city says on its website.
Some other wins in the proposed budget include:
- 11% increase in starting pay for Fire Fighters
- 11% increase in starting pay for Police Officers
- 17% increase in starting pay for Telecommunicators
Click here to see the full 422-page budget proposal.
Last week, Wake County leaders adopted their new fiscal year budget by a 6-1 vote. Unlike Raleigh, the $2.1 billion budget does include a property tax increase.
The approved version of the $2.1 billion budget increases funding for the Wake County Public School System by $40.3 million, raising the district's total operating budget to nearly $743 million. That amount meets Superintendent Robert Taylor's funding request by cutting money set aside to buy land for affordable housing by $1 million, and cutting more than $780,000 for new EMS hires. It also increases the property tax rate by 51.71 cents per $100 valuation - about a $16.20 increase for the average home valued at $450,000 - on top of a .25-cent increase that Wake County voters already approved to support county libraries.
Despite concerns, Wake County passes amended budget